Goodyear (GT) Q1 Earnings and Sales Beat Estimates

Goodyear (GT) Q1 Earnings and Sales Beat Estimates

Author Michael Doyle

30 April, 2017

Moreover, Blackrock Institutional Na has 0.03% invested in Goodyear Tire & Rubber Co (NASDAQ:GT) for 7.45 million shares. Great West Life Assurance Co Can accumulated 655,726 shares or 0.06% of the stock. Last session The Goodyear Tire & Rubber Company RSI was seen at 50.92. (NASDAQ:NUVA) was trading at volume above average, prior 52-week high was $77.88 and surged 43.36% over the same period, trading at a volume of 3.09 million.

Cooper Tire & Rubber Company had its "outperform" rating reiterated by analysts at FBR Capital Markets. For the last period, the company reported quarter over quarter EPS growth of 251.60% and quarter over quarter sales growth of -7.90%. Sales narrowly passed the Zacks Consensus Estimate of $3.69 billion. Diamond Hill Capital Management Inc. increased its position in Goodyear Tire & Rubber Co by 5.4% in the third quarter.

First quarter 2017 segment operating income of $73 million was down 8 percent from previous year as lower income in other tire-related businesses and unfavorable foreign currency translation offset favorable price/mix net of raw materials. Adjusted earnings were higher than 72 cents generated in the year-ago quarter.

Goodyear Tire & Rubber Co reported a lower-than-expected revenue as the No.1 US tire maker shipped fewer tires in the Americas region, its biggest market. Stockholders of record on Thursday, March 2nd were given a $0.105 dividend. The ex-dividend date of this dividend was Tuesday, February 28th. Retirement Sys Of Alabama invested 0.05% in Goodyear Tire & Rubber Co (NASDAQ:GT).

Several equities research analysts recently commented on CTB shares. JPMorgan Chase & Co. upgraded Cooper Tire & Rubber Co from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $47.00 to $51.00 in a research note on Tuesday, March 14th. The company had revenue of $643.03 million for the quarter, compared to the consensus estimate of $687.92 million. 1 is equivalent to a buy rating, 3 a hold rating, and 5 a sell rating.

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Since December 1, 2016, it had 0 buys, and 7 insider sales for $6.88 million activity. If you are viewing this news story on another domain, it was illegally copied and reposted in violation of US and worldwide copyright law. The original version of this article can be accessed at https://www.themarketsdaily.com/2017/04/27/stock-buyback-plan-announced-by-cooper-tire-rubber-co-ctb-updated.html.

On 11/16/2016 John J Holland, Director, sold 4,000 with an average share price of $37.86 per share and the total transaction amounting to $151,440.00. The sale was disclosed in a document filed with the SEC, which is available at this link. State Street Corp now owns 12,419,631 shares of the company's stock worth $383,401,000 after buying an additional 294,763 shares during the period. Replacement tire shipments were down 2 percent.

The Goodyear Tire & Rubber Company (GT) is now showing its ROA (Return on Assets) of 7.5%.

The company also released its Europe, Middle East, and Africa segment earnings, as well as its Asia Pacific segment earnings.

During the reported quarter, Goodyear repurchased 0.7 million shares for $25 million. The P/E Ratio measures its current share price relative to its per-share earnings. The company posted actual EPS for the last quarter of $1.28. Following the completion of the transaction, the senior vice president now owns 63,852 shares of the company's stock, valued at $2,355,500.28. (:XXII). Using the following ratings scale: 1.0 Strong Buy, 2.0 Buy, 3.0 Hold, 4.0 Sell and 5.0 Strong Sell, analysts have an average recommendation of 2.00. On the other side, analysts now consider The Goodyear Tire & Rubber Company a neutral, and a technical analysis of the stock is setting somewhat neutral outlook for now.

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